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"If you're going to panic, do it fast and beat the crowd." ~ Jesse Livermore

Sunday, September 18, 2011

EU Meeting Ends Without Major Progress

EU Meeting Ends Without Major Progress
TheStreet.com
But Greece's finance minister, Evangelos Venizelos, rejected talk that his country was headed toward default, Reuters reported. "The comments and analyses about an imminent default or bankruptcy are not only irresponsible but also ridiculous," Finance ...

Suddenly, Over There Is Over Here
New York Times
A crucial mechanism linking financial players in the United States to the problems in Europe involves credit default swaps, those insurance-like products that did so much damage during the 2008financial crisis. (Think American International Group. ...

The Market Awaits FOMC Meeting
International Business Times (press release)
Sentiment waxed and waned as investors were torn between fears of a Greek default and the dry-up of European banking system, and finance leaders' commitments to resolve the problems. Earlier in the week, credit risk in the European banking system has ...

China's Puzzling Numbers
China Digital Times
In 1998, the Asian Financial Crisis brought the region's economy grinding to a halt …. China was not immune to the effects …. But if the economy was indeed sliding into recession, it was not evident to the National Bureau of Statistics. ...

Russian media magnate Lebedev punches debate rival
AFP
MOSCOW — Russian billionaire Alexander Lebedev, owner of two leading British newspapers, punched a man in the face during a television debate on the financial crisis to be aired on Sunday. A clip posted on the NTV television channel's website shows ...

Fiddling while Athens burns
Sydney Morning Herald
Both are reacting in their own way to the financial jitters in Europe, where the markets are worried Greece will default on repaying its debts. Well, not so much worried as convinced there's a 98 per cent chance of it not paying interest on its bonds ...

FresnoBee.com News Blog: Loan default rates climb, along with ...
By Heather Somerville
The latest data on student loan default released this week by the U. S. Department of Education offers another glimpse into the perfect storm brewing in higher education. Rising tuition has forced students to take on more loans, and graduates ...
FresnoBee.com News Blog

Default Notices Spike in August | Mortgage 101 Blog
By Amber NelsonDefault notices sent out to U.S. households jumped 33 percent in August from the previous month, according to data from foreclosure data company RealtyTrac, a sign that banks are finally starting to get the foreclosure wheels turning again. ...
Mortgage 101 Blog

Debt crisis a historic challenge to European unity
CBS News
(AP) WROCLAW, Poland — The latest backdrop for European financial crisis talks was Wroclaw, Poland — or Breslau, as the picturesque city on the Oder River is still known in Germany. As Europe's finance chiefs bounce from meeting to meeting trying to ...

Greek debt default looks likely, says QNB Capital report
Peninsula On-line
At the same time, contagion appeared to be spreading to two much larger economies—Italy and Spain. The European Central Bank (ECB) intervened by purchasing Italian and Spanish bonds, which drove down yields. Juergen Stark, the ECB's chief economist, ...

Talk of Greek default ridiculous- Greek finmin
Reuters
ATHENS, Sept 17 (Reuters) - Greece's finance minister on Saturday dismissed talk that the overborrowed country would default and said Prime Minister George Papandreou cancelled a trip to the United States because tough decisions had to be made ...

German govt sniping over financial crisis persists
Boston Globe
BERLIN—Sniping between members of the center-right coalition over the ongoing European debt crisis persisted Saturday, with Germany's opposition pledging support for Chancellor Angela Merkel in shoring up the euro in exchange for new elections. ...

German banks at risk if debt crisis widens: Bafin
Reuters
BONN (Reuters) - A widening of the euro zone debt crisis beyond a Greek government default would pose an incalculable risk for Germany's banks, a top German regulator said in an interview. "A Greek government default cannot be seen in isolation," ...

Dutch Fin Min Sees Significant Impact In Case Of Financial Crisis
Wall Street Journal
AMSTERDAM (Dow Jones)--The Dutch finance minister said it sees a significant impact from afinancial crisis, he said in a letter to the parliament, portions of which were made public Saturday. If the sovereign debt crisis in some of the euro zone's ...

FEBP Website Releases 2009 Cohort Default Rate Data
New America Foundation (blog)
Earlier this week, the US Department of Education released data by institution of higher education on the federal student loan cohort default rate. These data show the percentage of a school's borrowers who entered repayment on federal loans in fiscal ...

Brazil's infrastructure investments help fight financial crisis
Xinhua
16 (Xinhua) -- Brazilian President Dilma Rousseff said Friday that investing in large infrastructure projects is a deliberate strategy to counter the impact of the global financial crisis. "Keeping investing heavily in infrastructure is part of our ...

Third Anniversary of the Financial Crisis of 2008: Lessons Learned
Technorati
It talks about all the complicated investment securities that have become synonymous with the financial crisis: credit default swaps, derivatives, collateralized debt obligations, mortgage backed securities, synthetic default swaps, subprime mortgages, ...

Point the EU profligates towards the exit pronto
Herald Scotland
With a high risk of Greek bond default and a contagious sovereign debt crisis, there is a real danger of another credit market seizure. The banks, French banks in particular, could buckle, crippling the entire system and tipping half the world back ...

August Posts 33 Percent Spike in Foreclosures
Bryan Ellis Real Estate Letter
33 percent more US homes received an initial default notice in August over July – the biggest monthly gain in four years[1]. While an initial notice does not guarantee a foreclosure, the spike does seem to indicate that lenders are done waiting for ...

Markets Remain In a Trading Range While Preparing For a Greek Default
Stock Markets Review
Gold prices fell before the Crash of 1987 and during the early part of the Financial Crisis in the fall of 2008. When the going really gets tough, precious metal prices can fall too. After declining as much as 170 points Monday morning, the DJIA was up ...

German govt sniping over financial crisis persists
Newsday (subscription)
Click here German govt sniping over financial crisis persists Originally published: September 17, 2011 8:29 AM Updated: September 17, 2011 1:41 PM By The Associated Press (AP) -- Sniping between members of the center-right coalition over the ongoing ...

The new Weimar Republic is here and it's a lottery
Times LIVE
European Union policymakers have been trying their best to weasel out of the grim issue of creditdefault swaps, which are bought as insurance against entities (either private or sovereign) going bust. So far, the suits have put up a variety of ...

No Borrower No Lender Yet Willful Defaulter
Moneycontrol.com
The question facing the 2 judge bench was- Whether default under a derivatives transaction can be termed as 'Willful Default'? Now, the who, what, how of Willful Defaulting is governed by the RBI. Its Master Circular defines Willful Default to include ...

From the Desk of Peter Tchir: "Is September 20th Greek Default Day?"
EconoMonitor (blog)
If you ever wanted some hand holding from your leader, it would be at a time of default. He would have to be in country to calm things and mention all the deals he put in place last week on the conference call. None of the headlines from Poland or ...

Exploring the potential for alternative worlds at Burning Man
Institute for Ethics and Emerging Technologies
Indeed, the Burner term for the real world is “default society,” and after a few days at Burning Man one can't help but gain a growing appreciation for what that actually means. Take the sheer numbers for example. Over 55000 people are packed into an ...